Note to Apple executives: MySpace is gunning for some of your share in the online-music space (iTunes and the iPod) with the debut of MySpace Music. The site, a joint venture with all four major music labels, will generate revenue through paid-for downloads via Amazon.com, ring tones and, in time, concert tickets and merchandise. Music companies will get a piece of ad revenue depending on how many times their songs are played. Rio Caraeff, digital executive VP at Universal Music, told The Telegraph: “We need to diversify our sales away from just physical sales, and that means selling music any place a consumer wants it.”
